The U.S. bank authority announced the Wednesday move will shift the country's benchmark rate to a range between 1.5 per cent and 1.75 per cent as it tries to tame soaring inflation.
High household debt and elevated housing prices have become bigger vulnerabilities in the past year, but the economy can handle the rising interest rates needed to tame inflation, central bank says.
Inflation is at a multi-decade high, but the situation is different than the 1970s when high inflation was combined with high levels of joblessness and slow or recessionary economic growth, senior…
The Canadian economy surged ahead in February as pandemic-related restrictions eased, fuelling expectations by economists that the Bank of Canada will opt for another oversized rate hike in June.
The governor of the Bank of Canada is signalling Canada's key interest rate could go up another half percentage point in June to help wrestle inflation under control.
He wouldn't rule out pushing rates beyond 50 basis points all in one sitting, after moving to lift rates by that amount to one per cent just last week, but said he "is prepared to be as forceful as…
The Bank of Canada raised its key interest rate by the highest amount in more than 20 years and warned more rate hikes are coming as it increased its outlook for inflation.
A new poll suggests Canadians are looking for ways to cut back on spending as their concerns about the cost of living rise alongside headline inflation rates.
Top central banker says raising bank's benchmark interest rate may be costly for households, but waiting longer to act would be more costly for the country.
Since Monday, protesters have cut off Canada-bound traffic on the Ambassador Bridge between Detroit and Windsor in a show of solidarity with demonstrators in Ottawa.